Brief: Nibe Starts Action Program, To Affect 500 Employees

Nibe Industrier AB

16/02/2024 07:25

Feb 16 (Reuters) - Nibe Industrier AB  NIBEb.ST :
    * DIVIDEND OF SEK 0.65/SHARE (SEK 0.65/SHARE) PROPOSED
    * GOOD PERFORMANCE IN 2023 - CLEAR DECLINE IN Q4
    * Q4 PROFIT AFTER NET FINANCIAL ITEMS SEK 1,378 MILLION
VERSUS SEK
1,771 MILLION YEAR AGO
    * Q4 REVENUE SEK 11.66 BILLION VERSUS SEK 11.79 BILLION SEEN
IN
LSEG POLL
    * Q4 EBIT SEK 1.59 BILLION VERSUS SEK 1.56 BILLION SEEN IN
LSEG
POLL
    * CEO SAYS "WE ARE WELL PREPARED TO CONTINUE BEING PROACTIVE
ON
ACQUISITIONS"
    * CEO SAYS  "WE REMAIN OPTIMISTIC ABOUT OUR LONG-TERM
PERFORMANCE
IN 2024"
    * WEAK DEMAND IN EUROPEAN HEAT PUMP MARKET COULD BE SEEN IN
FIRST
WEEKS OF 2024, PROMPTING DECISION TO INTRODUCE ACTION PROGRAM
    * PROGRAM PRIMARILY AIMS TO STREAMLINE FULL ORGANIZATION AND
WILL,
AMONG OTHER THINGS, AFFECT AROUND 500 EMPLOYEES
    * EXPECTED ANNUAL SAVINGS DUE TO PROGRAM ARE ESTIMATED AT
AROUND
SEK 600 MILLION, FULL EFFECT OF WHICH WILL BE SEEN IN 2025
    * COSTS OF ACTION PROGRAM ARE ESTIMATED AT AROUND SEK 900
MILLION,
WHICH WILL AFFECT Q1

Source text for Eikon:  ID:nGNE1FpYk7 
Further company coverage:  NIBEb.ST 

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